RBA slashes interest rates
The Reserve bank today slashed interest rates by the most since the global financial crisis in an attempt to restart the sagging economy.
The official cash rate was cut by 50 basis points, twice the amount expected by many economists, to 3.75%. This is the biggest reduction since February 2009.
Attention will now shift to the banks as we wait to see how much they will cut their rates and how soon.Back to News List